Veterinary Medical Clinic
For Sale
$2,199,000
2245 E State Route 69, Prescott, AZ 86301
High-visibility veterinary hospital and clinic is fully leased through 2031 under an NNN structure.
Property Size6,320 SF
Days on Market383
Property Features for 2245 E State Route 69
General Information
Standard status
Active
Size
6,320 SF
Property subtype
Commercial
Zoning
X
Occupancy
100%
Additional Details
Cap Rate
5.5%
Taxes and HOA fees
Annual Taxes
$8,540
Building Details
Building Size
6,320 SF
Year Built
1995
Buildings
1
Listing Agency:
Mountain & Desert Properties, LLC
(480) 488-9974
Listed By:
Keith Lytle · License #BR640275000
(602) 877-5511
Source:
Sunhaven-realestate
Added: Aug 20, 2025
Changed: Sep 5
Last Checked: Aug 16 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mountain & Desert Properties, LLC
Investment Insights
Based on property information with market context.
This high-visibility property operates as a veterinary hospital and clinic and is currently fully leased. The long-term primary tenant is in place through 2031. The tenant is not using all available space and has sublet a portion for wellness spa use.
The asset is described as an NNN lease offering, with the property noted as 5 1/2 CAP. It is presented as a specialty healthcare-oriented facility combining veterinary services under one roof.
The listing reflects a mixed configuration of veterinary hospital/clinic operations alongside a wellness spa sublet within the same leased building.
The asset is described as an NNN lease offering, with the property noted as 5 1/2 CAP. It is presented as a specialty healthcare-oriented facility combining veterinary services under one roof.
The listing reflects a mixed configuration of veterinary hospital/clinic operations alongside a wellness spa sublet within the same leased building.
Key Highlights
- Year built 1995 high‑visibility veterinary hospital and clinic
- Fully leased through 2031 under an NNN lease structure
- Long‑term tenant in place through 2031
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,962
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,059,240
$2.1M
Cap Rate 7%
$1,470,886
$1.5M
Cap Rate 9%
$1,144,022
$1.1M
Market Conditions
NOI Build-Up for 6,320 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$183.5K $29.04/SF
− Vacancy
−$11.9K −$1.89/SF
EGI
$171.6K $27.15/SF
− OpEx
−$68.6K −$10.86/SF
NOI
$103.0K $16.29/SF
Area
Yavapai County, AZ
Vacancy
6.50%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,059,240
Cap Rate 7%
$1,470,886
Cap Rate 9%
$1,144,022
Alternative Uses
Best Use
Healthcare Medical
$1.47M
$1.29M – $1.72M
NOI $102,962 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.12M
$1.85M – $2.47M
NOI $148,203 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 86301, AZ
25,115
Population
13,863
Households
1.8
Avg Household Size
57
Median Age
37%
College-Educated
96%
High-School Grad
33.4 sq mi
ZIP Area
752
Density / Sq Mi
$71,962
Median Household Income
$33,989
Median Earnings
$1,580
Median Rent
$495,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - High-visibility veterinary hospital and clinic is fully leased through 2031 under an NNN structure.
Where is this medical center located?
The property is located at 2245 E State Route 69 Prescott, AZ.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Year built 1995 high‑visibility veterinary hospital and clinic; Fully leased through 2031 under an NNN lease structure; Long‑term tenant in place through 2031
